PJSC “European Insurance Alliance” (Kyiv) has collected UAH 146,098 mln of gross premiums in January-June 2023, which exceeded by 39,43% the volume of premiums for the same period of 2022.
In the message of Rating Agency “Standard-Rating” on updating the financial stability rating (credit rating) of the company for the first half of 2023 on the national scale at the level of “uaAА” it is indicated that receipts from individuals have increased by 61.51% – to UAH 37.957 mln, and from reinsurers, on the contrary, have decreased by 24.10% to UAH 0.444 mln.
Thus, following the results of the first half of 2023 legal entities continue to prevail in the client portfolio of the company.
Net premiums collected by the company grew by 41.9% to UAH 125.6 mln, earned premiums – by 32.6% to UAH 113 mln.
During the reporting period, the company paid UAH 51.7 mln, which is 28.3% more than in the same period last year.
Net profit has amounted to UAH 1,9 mln (+76,3%), financial result from operating activities – UAH 3,95 mln (+20,3%).
Assets of the insurer as of June 30, 2023 have amounted to UAH 229,2 mln (+15,5%), shareholders’ equity – UAH 85,6 mln (-0,17%), cash and cash equivalent – UAH 74 mln (+29%).
PJSC ‘European Insurance Alliance’ has been working in the insurance market of Ukraine since 1994. It is a member of the Audit Commission of the ITSBU, a participant of the Agreement on direct settlement of losses on compulsory insurance of civil liability of owners of land vehicles and a member of the Council of the Nuclear Insurance Pool of Ukraine.
The Company provides 30 types of voluntary and compulsory insurance, including property, automobile, liability and personal insurance.
Canadian Foreign Minister Melanie Joly announced the appointment of Natalia Tsmotsi as Canada’s ambassador to Ukraine, in this post she will replace Larissa Galadza, the Foreign Ministry’s website reported on Thursday, August 24.
“She is a professional expert on Ukraine with a wealth of experience and understanding of Canada’s multifaceted support to the country, including Canada’s implementation of democratic programs before the illegal Russian annexation of Crimea, the creation of Operation UNIFIER and Canadian monitoring of the Ukrainian elections after the 2015 presidential campaign,” – stated in the message.
It is noted that Natalia Tsmotsi speaks Ukrainian, has deep ties with the Ukrainian community in Ukraine and in Canada, and is ready to help deepen ties between the two countries at all levels.
The Foreign Ministry emphasized that thanks to the diplomatic mission of the newly appointed ambassador, “Canada will be able to continue supporting Ukraine in this difficult time and in the long term”.
The share of the U.S. dollar in international settlements within the SWIFT system rose to 46.5% in July from 39.4% a month earlier, according to the monthly RMB Tracker report released by SWIFT.
Bloomberg agency calls the dollar’s July performance a record high. Ten years ago, the currency accounted for just over a third of all settlement volume.
The U.S. dollar remains the leader in terms of share in international settlements. The second position is still occupied by the euro, whose share last month fell to a historically low 24.4% from 38.4%, the third – the pound sterling (7.6% in July against 6% a month earlier), the fourth – the yen (3.5% against 2.7%), the fifth – the yuan (3.1% against 2.2%).
In 2012, the single European currency held 46% of settlement volume. This is its peak figure.
Meanwhile, the share of the Chinese currency exceeded 3% for only the second time in the history of observations. In 2010, it was about 0.03%.
The Specialized Anti-Corruption Prosecutor’s Office (SAPO) and the National Anti-Corruption Bureau of Ukraine (NABU) have exposed the First Deputy Minister of Agrarian Policy of Ukraine and the former Deputy Minister of Economy of Ukraine for misuse of UAH 62.5 million in the purchase of food to meet the needs of the state during martial law.
As reported in the SAPO telegram channel on Thursday, the food was intended as humanitarian aid for the needs of eight regions of Ukraine, as well as the city of Kyiv.
As established during the pre-trial investigation, in March 2022, the First Deputy Minister of Agrarian Policy and Food implemented a scheme that provided for the purchase of products for the needs of regional military administrations at the expense of Ukrzaliznytsia JSC from a controlled company at prices 2-3 times higher than market prices. The price overstatement was due to the purchase of products from a foreign manufacturer (Poland) through a controlled intermediary company. As a result of this scheme, from March to August 2022, Ukrzaliznytsia suffered losses in the amount of UAH 28.8 million.
A similar scheme was used to purchase food products from a foreign producer in Turkey through a controlled spacer firm. To ensure the purchase of products, the scheme also involved the then acting Deputy Minister of Economy, who concealed data on the availability of more favorable offers from other market participants, including Ukrainian producers, and also induced officials of regional administrations to illegally approve applications and invoices for the purchase of products from the controlled company.
Due to the operation of the scheme from March to August 2022, Ukrzaliznytsia suffered damage of another UAH 33.7 million, according to the SAP and NABU. After receiving payment, the money was transferred to a foreign company with signs of fictitiousness for further legalization.
The above-mentioned officials have been announced on suspicion, their actions are qualified under part 2 of article 364 of the Criminal Code of Ukraine “Abuse of power or official position”
The post of First Deputy Minister of Agrarian Policy and Food has been held by Taras Vysotskyy since May 26, 2021.
On August 22, the shareholders’ meeting of JSC “PROSTO-Insurance” (Kyiv) decided to terminate the activities of 13 regional divisions, according to the company’s information posted in the NSSMC disclosure system.
As reported, the National Bank of Ukraine in May excluded the company from the State Register of Financial Institutions in connection with the revocation of all available licenses to carry out activities on April 27, due to the fact that the ownership structure of the insurer did not meet the requirements of the law.
JSC “PROSTO-strakhovanie” had 23 licenses. According to the company’s latest financial statements for the first quarter of 2023, the volume of insurance premiums amounted to UAH 43.488 million, the value of assets – UAH 561.494 million, insurance reserves – UAH 161.712 million. The company’s market share in terms of insurance premiums amounted to 0.5%.
Insurance Company “PROSTO-Strakhovanie” was registered in 1997. It specializes in providing services in the field of risk insurance.
According to the National Securities and Stock Market Commission, as of the fourth quarter of 2022, 99.998% of the insurer’s shares were owned by Lavidia Limited (Cyprus).
The BRICS member states have decided to invite Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE to join the organization, South African President Cyril Ramaphosa said on Thursday.
“We have decided to invite Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE to become full members of BRICS,” Ramaphosa said in a speech at the BRICS summit.
The membership of these countries will become official on January 1, 2024, the South African leader explained.
